Theme parks have special features that include the diversity and exclusivity of themes. They are usually appraised using the replacement or Discounted Cash Flow methods. The influence area, per capita income of the population, infrastructure, diversity of income, operating costs, investments, vacancies, etc … are some of the points analyzed in these appraisals. Special structures have costs that must be budgeted with special attention. In most parks the economic value (DCF) is lower than the depreciated replacement cost and this is due to the high implementation and maintenance costs….Read more

Chile has implemented the international financial reporting standards and fixed assets are guided by IAS (NIC) 08, 16 and 36. Fair values and useful lives should be reviewed annually and any addition or decreases should be recorded in specific accounts. All assets, including those with undefined useful lives, must have their useful lives reviewed. With these analyzes the financial statements reflect the real situation of fixed assets….Read more

The image of a professional sports company is associated with its track record and its athletes. Revenue is generate from various sources that may or not be associated with the sport. The sources of revenue associated with the sport are: TV, radio, iradio, tickets, fans, sponsors, advertising, seat sales, royalties, athletes, parking, etc …, and non-sport associated revenues are: shows, rentals, etc …. The value of these companies is very associated with mood and momentum, which change due to human behavior (panic, fear, euphoria, greed, etc …). The DCF – Discounted Cash Flow is the best method to valuate these…Read more

Songs are assets of value to their authors and singers and there will always be demand. Songs produces income from various sources, such as: radios, iradios, TV, internet, movies, ads, etc. There is no replacement for music as a product, but technology has created new consumption and revenue models. Projections are for growing revenues over the next few years through streaming and decrease for mechanical reproduction. The valuation of musical assets may be performed by Income Approach or Market Approach. The author of the song and the singer have distinct royalties….Read more

Hedge funds have specific characteristics that define their market value. This growing sector holds 7% of the world’s wealth, is very fragmented, highly regulated and currently under pressure to reduce its earnings which depend on the ability of its manager(s). The valuation analyzes yield history, expected returns, market forecasts, fees, performance, operating expenses, etc … and determines the best outcome. In this market it is difficult to find adequate comparisons and determining the length of the analyzed period of returns requires particular attention. For purchases and sales, IFRS, taxes and disputes Mynarski sets the correct value based on established criteria….Read more